So far, the Longhorn Network might or might not have been the success ESPN was hoping for when it agreed to pay Texas $15 million a year. You likely still don't know anybody who's actually seen it, and its infrequent emergence into regular-folks television just gets everybody all mad.
But there's apparently something there that at least one other enormous media company is interested in, specifically Time Warner. According to the Austin American-Statesman's Kirk Bohls:
But an industry source told me Time Warner is interested in trying to buy the Longhorn Network or at least partner with ESPN on the property, for which ESPN is shelling out $300 million over 20 years. Time Warner representatives at the corporate office have not returned phone calls for several weeks, and the cable provider won't even disclose the last time it negotiated with ESPN. ESPN has failed to reach any distribution agreements with major cable providers or satellite companies.
An official statement from Time Warner denied that any business has been conducted here. None of this makes any sense to me, but I am also not an important television executive.